The remarks made by the Nigerian industrialist Alhaji Aliko Dangote about the purchase of land for his refinery in Lagos were recently addressed by Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy. Dangote explained the financial dealings that went into building his refinery, and his revelations came amid a conversation about corporate monopolies. The site for the refinery in Lagos was not acquired freely, Dangote stressed in a video that has gone viral.
Refuting allegations of obtaining incentives from either the Federal Government of Nigeria or the Lagos State government, he revealed that he paid $100 million to the Lagos State government for the land. In his remarks, Dangote made it very clear that no one was given special treatment. “At the refinery, we did not receive a single incentive from the Federal Government of Nigeria or even Lagos State,” Dangote said specifically.
We spent one hundred million dollars for the property, albeit the Lagos State did provide us a decent bargain. We had to pay for it; it wasn’t free land. Take a moment to view the video. Bayo Onanuga responded to this news on his official X Twitter. His concise yet incisive response emphasized the significance of the refinery’s performance.
Being one of the biggest in Africa, the refinery is considered as a crucial component in lowering Nigeria’s reliance on refined petroleum products imported from other countries. Its achievement is crucial for the stability and growth of the national economy, and it’s also a personal accomplishment for Dangote….See _ Morē